Trading activities on the floor of Nigerian Stock Exchange yesterday close northward, as local institutional and fund managers continue with Portfolio repositioning strategy, gaining N471 billion.
The Market Capitalisation of listed equities gained 3.54 per cent to N13.787 trillion from N13.316 trillion reported on Tuesday.
The NSE All Share Index also appreciated by 975.55 basis points to 28562.48 points from 27586.93 traded the previous day.
Investors during the day traded 741.821 million shares worth N9.216 billion in 7622 deals against 446.383 million shared worth N5.819 billion in 5727 deals.
Commenting on the positive trend witnessing in the equity market in the last seven trading session, a financial analysts, Mr Ambrose Amordion said the market sustained growth profile as Local institutional investors and funds managers take advantage of the two consecutive years of decline to reposition their portfolios for the new year expectations, as the economic recovery is likely to continue, dividend yields of quoted companies to remain relatively higher than the prevailing money market rates and fixed income instruments as flow of funds continue in the financial market. This rally according to him have been sustained as the remaining foreign investors are not exiting yet ahead of 2019 full year earnings reporting season and expected positive marcoeconomic data
A review of the investment showed that Dangote Cement Plc led gainers table during the day, gaining N14.00 to close at N164.00, Presco Plc followed with a gain of N3.85 kobo to close at N52.00, Okomu Oil Plam gained N3.50 kobo to close at N60.00, Stanbic IBTC increased by N2.50 kobo to close at N42.50 kobo, Julius Berger added N1.95 kobo to close at N21.85 kobo
On the contrary,Total Nigeria Plc topped loses chart, during the day, shedding N3.90 kobo to close at N107.00, UPDC Reits trailed with a loss of N0.40 kobo to close at N4.05 kobo, Unilever Nigeria Plc fell by N0.40 kobo to close at N19.60 kobo, UAC Property down by N0.08 kobo to close at N1.00, Triple G fell by N0.06 kobo to close at N0.58 kobo.
